๐ฐ What Vitalik discussed this time was not short-term market trends, but whether the computational cost of cryptography can keep being pushed down.
He believes that SNARKs, fully homomorphic encryption (FHE), and indistinguishable obfuscation (iO) all have a chance to bring the extra overhead below 10x by the end of this decade. This is calculated not from the price of a single piece of hardware, but from energy costs plus amortized computation costs.
๐ฅ The more aggressive judgment is that each of the three has a 33% chance of reaching the "1+ฮต" level. In other words, when the scale of computation is large enough, the cost added by encrypted processing may gradually approach the cost of the original computation itself.
๐ก For all three technologies to get below 10x overhead, he gives it a 60% probability. But the one most likely to first achieve single-digit overhead, Vitalik thinks, may be SNARKs.
To be honest, this judgment is still his own non-consensus view, not something that has already been realized. Dedicated hash functions and some large language model inference have already reached a similar level, which at least shows that this path is not entirely confined to paper.
๐ค If SNARKs really push computational overhead down to single-digit multiples by the end of this decade, what do you think will change first: blockchain verification, or privacy-preserving computing?
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